China says ‘no cause for panic’ over US ties, but won’t be blackmailed

At a U.N. Security Council meeting on Wednesday, U.S. President Donald Trump escalated tensions with Beijing by accusing it of seeking to meddle in the Nov. 6 U.S. congressional elections to stop him and his Republican Party from doing well because of his China trade policies. At the same meeting, Wang rejected the charge. “Protectionism will only hurt oneself, and unilateral moves will bring damage to all,” Wang said in a speech at the United Nations General Assembly on Friday. “Regarding trade frictions, China stands for a proper settlement based on rules and consensus through dialogue and consultation on an equal footing. China will not be blackmailed or yield to pressure.” Trump, who accuses China of stealing U.S. intellectual property, limiting access to its own market and unfairly subsidizing state-owned industries, has escalated his trade war with China and U.S. tariffs on $200 billion worth of Chinese goods kicked in on Monday, prompting Beijing to retaliate with additional tariffs on $60 billion of U.S. products. Wang earlier told the Council on Foreign Relations in New York that concrete actions had to be taken to maintain relations between the United States and China. “The closer our engagement, the more closely entwined our interests, maybe various suspicions and even frictions may ensue,” Wang said. “This is not surprising and it is also no cause for panic. What is important is how these differences should be viewed, evaluated and handled.” Wang, who holds the twin titles of foreign minister and state councilor, dismissed… [Read full story]